Is Grand Marais, MN 55604 a buyer’s or seller’s market?
Grand Marais is a balanced market. With about 5 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 44% of U.S. ZIP codes, and #250 of 296 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Grand Marais housing market right now
In the three months ending August 31, 2026, 24% of homes in Grand Marais, MN 55604 sold above their list price, the typical home went under contract in 35 days and there were 5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 22 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 41%, homes sold about as fast and the median sale price rose 4% to $515,777. Overall, Grand Marais is less competitive than a year ago, which gives buyers more room.
On our competition score, Grand Marais ranks #250 of 296 MN ZIP codes with enough sales (score 44 out of 100).
Nearby, buyers who want less competition could look at Tofte 55615 (0% sold over asking) or Lutsen 55612 (11% sold over asking).
Run the numbers for 55604
Nearby markets
Hovland 55606 — /sq ftLutsen 55612Buyer’s market $378 /sq ftSchroeder 55613 — /sq ftTofte 55615Seller’s market $451 /sq ft Browse all markets →Where Grand Marais is
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Questions about Grand Marais real estate
Is Grand Marais a buyer’s or seller’s market?
A balanced market: there were 5 months of supply in Grand Marais, MN 55604 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Grand Marais?
The typical home went under contract in 35 days in the latest three months.
Do homes in Grand Marais sell over asking?
24% of homes sold above their original list price, and the typical sale closed at 98.1% of the list price.
What are property taxes in Grand Marais?
About 0.69% of a home’s value a year in Cook County, or roughly $2,760 on a $400,000 home.
What is the median home price in Grand Marais?
The median sale price was $515,777 in the three months ending August 31, 2026, about $369 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology